Maruti Suzuki, the Indian subsidiary of the Japanese carmaker Suzuki Motor Corp and the largest car manufacturer in India has posted an increase of 144 percent in its profits for the quarter October – December 2012 in the fiscal year 2012-13 over the same period in the year 2011. The increment in the company’s profits is a first in 18 months since June 2011.
In the year 2011, the Japanese automaker witnessed huge production losses and low output due to labor unrest and disruption of the production at its Manesar facility. This has resulted in creating a low base of profit and revenue for the company when compared with the sales performance in the year 2012.
The company also stated that its sales for the 3rd quarter in 2012-13 fiscal jumped 46 percent, thus bringing in revenue and enabling higher profits. The growth in the quarter is attributed primarily to the newly launched car models and tighter cost control, added the carmaker.
Maruti Suzuki contributes to more than half of the net profits of the parent company Suzuki Motors.